How do you accrue pension?

There are 3 ways in which you accrue pension:
A. State pension (AOW): you will receive this from the government if you live or work in the Netherlands. Read more on SVB.nl.
B. Pension through your employer. This Pensioen 1-2-3 addresses this type of pension.
C. Pension that you arrange yourself. For example by means of savings, an annuity or savings in a blocked account with your bank (‘banksparen’).

Each year you accrue a portion of your pension. Your total pension is the sum of all those portions. You will receive this pension from the date of your retirement, for as long as you live. This is called a career-average scheme ('middelloonregeling').

Every year you accrue part of your pension. You do not accrue pension over your total gross salary. You do not accrue pension over € 17.545.- annually (2024). For we take into account the pension you will later receive from the government. You accrue 1.875% pension over the remaining salary, up to a maximum salary of € 137.800.- annually (2024).

Each month you pay a contribution towards your pension. Your employer also pays a contribution. With our pension fund your share of the contribution is 25%. Your employer pays 75% of the contribution. Your salary statement states the amount you pay yourself.